Committee tasked with amending Guyana’s Laws on financial crime is yet to complete its work
As Guyana prepares to face the Caribbean Financial Action Task Force on August 22nd, the Government’s chief spokesman Cabinet Secretary Dr. Roger Luncheon says Guyana has failed to meet some of the recommendations outlined by the body.
The Special Select Parliamentary Committee, tasked with addressing the amendments to Guyana’s Anti-Money Laundering and Countering the Financing of Terrorism Laws is yet to complete its work. Now those changes to the current laws are on pause given the Parliamentary recess.
The adjustments to Guyana’s legislations are based on recommendation coming from the international body to bring Guyana into conformity with certain international standards.
At his weekly press briefing Dr. Luncheon said Guyana will be making its presentation to the Caribbean Financial Action Task Force on both the legislative and non-legislative recommendations.
There is a possibility that Guyana can run the risk of being blacklisted and excluded from important activities.
Both opposition parties APNU and AFC have refused to be rushed into supporting the Bill. APNU stated that the Government was not forthcoming with the correspondence from the Caribbean Financial Action Task Force.
The AFC has indicated that the party would not support the Government’s amendments to the law until there is clear indication that the Public Procurement Commission would be established.